Obama fans?

vlagrl29

renegade gaucho:

vlagrl29:

There are rich people that work hard.....that's what I don't get.  If I was rich and I got it thru hard work and the money I made I invested wisely I wouldn't want to get taxed more.  

Don't you work hard? Don't you invest your money wisely?  If so, why aren't you rich?

I do both, but I'm also a mom and don't have the time right now to make more money, but DH is really working on it.  I doubt we will ever be rich which is fine, but we have plans for retirement and I"m investing wisely on that.  we should have a decent amount in our IRAs when we retire.  He is working on the next phase of his business which will help us immensely.  If we had to give most of that income away I would be pissed! 

madamsmurfette

jebrmbbeb:

LuckyDad:

I do greatly prefer Obama on social issues, although I feel like Romney hasn't revealed enough of his plans regarding taxes and the economy to even judge his "plan". As far as I can tell he supports Trickle Down; cut taxes on the richest Americans, and everyone magically gets richer. He seems to be suggesting he can cut taxes on the rich while balancing the budget and not cutting social security or defense. I don't even understand his plan, at least with Obama we know what we're getting.

Obama wants to raise taxes on the wealthy, therefore those "rich people" and business owners will be giving more money in correlation to what they make. It's suggested they will lay off people as a lot of those rich people are owners of huge companies that branch into small companies, etc. and employ many people overall. Also, the mindset that the more you make, the more you give to the government is not healthy for capitalism, especially if you want people motivated to be successful. Success should not be punished. This will help pay off the government's debt.

Romney does not want to cut taxes on the rich; he wants to create more "loopholes and deductions" while at the same time keeping tax rates generally the same (from what I understand). So businesses can profit like my husband's, (we can feel the burden right now and it'd be nice to have some lifted so my husband can employ more people and make more money!) Basically he's not raising taxes on the rich like Obama. Therefore these large companies will continue growing, building wealth, creating jobs and employing people. So how will the government get their money then? Well, these new jobs will create more tax revenue from the new working/tax paying people. With this solution, more jobs are created, more people are employed, more people are spending money, and more people are paying taxes. So the economy is stimulated and the government gets their money without having to raise the burden on individuals, because more people are working.

You understand it completely wrong. He wants to cut the tax rates while closing loopholes and eliminating deductions. So, you may pay 24% tax rate rather than 32%, but you no longer have a child care credit or mortgage deductions.

CoffeeBeen

vlagrl29:

renegade gaucho:

vlagrl29:

There are rich people that work hard.....that's what I don't get.  If I was rich and I got it thru hard work and the money I made I invested wisely I wouldn't want to get taxed more.  

Don't you work hard? Don't you invest your money wisely?  If so, why aren't you rich?

I do both, but I'm also a mom and don't have the time right now to make more money, but DH is really working on it.  I doubt we will ever be rich which is fine, but we have plans for retirement and I"m investing wisely on that.  we should have a decent amount in our IRAs when we retire.  He is working on the next phase of his business which will help us immensely.  If we had to give most of that income away I would be pissed! 

I think you're missing the point. 

jebrmbbeb

carlab44:

jebrmbbeb:

LuckyDad:

I do greatly prefer Obama on social issues, although I feel like Romney hasn't revealed enough of his plans regarding taxes and the economy to even judge his "plan". As far as I can tell he supports Trickle Down; cut taxes on the richest Americans, and everyone magically gets richer. He seems to be suggesting he can cut taxes on the rich while balancing the budget and not cutting social security or defense. I don't even understand his plan, at least with Obama we know what we're getting.

Obama wants to raise taxes on the wealthy, therefore those "rich people" and business owners will be giving more money in correlation to what they make. It's suggested they will lay off people as a lot of those rich people are owners of huge companies that branch into small companies, etc. and employ many people overall. Also, the mindset that the more you make, the more you give to the government is not healthy for capitalism, especially if you want people motivated to be successful. Success should not be punished. This will help pay off the government's debt.

Romney does not want to cut taxes on the rich; he wants to create more "loopholes and deductions" while at the same time keeping tax rates generally the same (from what I understand). So businesses can profit like my husband's, (we can feel the burden right now and it'd be nice to have some lifted so my husband can employ more people and make more money!) Basically he's not raising taxes on the rich like Obama. Therefore these large companies will continue growing, building wealth, creating jobs and employing people. So how will the government get their money then? Well, these new jobs will create more tax revenue from the new working/tax paying people. With this solution, more jobs are created, more people are employed, more people are spending money, and more people are paying taxes. So the economy is stimulated and the government gets their money without having to raise the burden on individuals, because more people are working.

Was this a typo? Because Romney keeps talking about closing loopholes and tax deductions, not creating them. Although he will not specify which loopholes he'll close and how much money that will generate to pay for his proposed tax cuts.

Yes thank you! What I wrote doesn't make sense, close not create. Someone explained it accurately below. And yes I'm aware of this (embarrassing). 

LuckyDad

madamsmurfette:

You understand it completely wrong. He wants to cut the tax rates while closing loopholes and eliminating deductions. So, you may pay 24% tax rate rather than 32%, but you no longer have a child care credit or mortgage deductions.

Actually, no one really knows. Willard has said a few different things, and has never laid out a concrete plan with regards to tax policy. Is he for or against eliminating the mortgage deduction? Who knows? Just trust him. TRUST HIM.

RustyBelle

JeniLovesNeil:

vlagrl29:

speaking of taxing the rich.  I don't agree with taxing them more, those of the rich that have worked hard all their life shouldn't have most of their money taken from the govt. Don't know if you all heard of what happened in france, but they are now taxing their rich 75% and those people are leaving france and going to great brittan.  Honestly , I don't believe in re-destributing the wealth like that.

If many of America's wealthy actually became wealthy through hard work, than I could get behind that.  However, that's not the case.  Tricky investing and inheriting millions is not hard work.  They got tax cuts and didn't create jobs.  Time for them to pay their fair share. 

 

I see you have a child, don't you want anything that you have to be passed on to your children to make their lives easier? Or would you prefer the government take it all since your children did not work hard for it or earn it? Someone earned that money and I don't think if you inherit money you should be criticized for it. That just sounds like jealousy. Unless you honestly don't think it right for inheritance to be passed down, then I'm way off base.

 Also, that money is taxed a second time when it is inherited so I would say that is more than a "fair share". 

LuckyDad

RustyBelle:

I see you have a child, don't you want anything that you have to be passed on to your children to make their lives easier? Or would you prefer the government take it all since your children did not work hard for it or earn it? Someone earned that money and I don't think if you inherit money you should be criticized for it. That just sounds like jealousy. Unless you honestly don't think it right for inheritance to be passed down, then I'm way off base.

 Also, that money is taxed a second time when it is inherited so I would say that is more than a "fair share".

Our current law is such you have to be almost obscenely rich for the government to start taking a portion of your estate when you die. I honestly don't feel bad if someone inheriting $5M has to give some of it to help pay for defense, roads, grandmothers and poor people's health care. Noblesse oblige, after all.

RustyBelle

Ok, but I believe that will change slightly when the tax cuts expire right? It would go up to something like 50% on amounts much less than $5M.

Besides that, the whole point was that when you say if you inherit money you didn't work for that so who cares how much you are taxed...I mean someone did work for that and they left it for their families to help them. Wouldn't we all do the same for our family?

That's all I was saying, don't hate on inheritance.

GeraldoRivera

vlagrl29:

There are rich people that work hard.....that's what I don't get.  If I was rich and I got it thru hard work and the money I made I invested wisely I wouldn't want to get taxed more.  

Do you really think that rich people work harder than poor people or middle class people? Do you really think that someone who sits in an office all day deciding where to move money works harder than a police officer or a coal miner?